An Emerging Trend
In an earlier issue of Content & Technology magazine, I discussed Succession Planning under “Consider it, but don’t ignore it.”The response to the article was encouraging as it addressed management concerns in regards to a company’s vulnerable position if they lost key personnel.
This question was again raised at SMPTE2005, when J-Curve was fortunate to have been invited by the board of SMPTE to participate in a panel discussion at the conference under “Engineering Your Future”.
The level and depth of discussion that occurred from this session was astounding.
It addressed the freelance and contract models of employment that are currently gaining momentum in the workplace.
What elevated from the session was concerns from not only older employees but also graduates wondering if there is a permanent position out there long after graduation.
In reflection of this trend was also the concern by mangers who contracted expertise under a project by project basis. Their concern was one of permanency of expertise long after the projects completion.
So if this trend is gaining momentum as well the concern of individuals then what’s driving it? One factor appears to be technology. In a technical sense we live in a disposable fast moving environment where items are replaced not repaired, particularly on site. The other is economy of scale, which is purely a case by case decision.
How we combat this trend and secure a solid path of growth without costing the earth is the big question?
Well, it’s not a question of combating it but a question of accepting it.
A number of changes to the workplace will need to occur.
Addressing industrial workplace relations is an obvious starting point and currently a hot topic in Australia but it won’t be discussed in this article as we’re limited for space. Suffice to say, a topic for another day.
Firstly a change of mind set will need to be adopted by those who are between positions of permanent employment. They should address and accept that for some unknown period they may be required to work under a contract or freelance model. Once accepted they should be conscious of their marketability so their ability to develop “self-marketing” skills will be a necessary new skill set.
Building and managing a reliable and up-to-date network of contacts is paramount.
Those in permanent positions of employment should also be conscious of the same reliable network of contacts in order to navigate and find valued contract expertise at a time of need.
Going back to our previous article of Succession Planning, employers should be conscious of this current trend and seriously consider the growth of expertise from within their own organization. This is where expertise grows at a cost acceptable to most CFOs.
So what is succession planning?
It is a plan that is normally actioned over, or up to, a period of three to six years with the sole purpose of transferring your leadership to a successor. If a Succession Plan is actioned around you, then it’s because you are being considered for a more senior role, moving sideways or involved with ‘Exit Planning’ (retiring).
All businesses need to have one, whether it’s a small family concern or the Microsoft’s of the world. Succession Planning is a necessary business strategy!
Succession Planning bonds employees with future opportunities. It has a stabilising effect on staff numbers due to the improved human dynamics that result from leadership gain not a feeling of loss when the successor is suddenly appointed.
It also addresses the issue of re-skilling as most companies will survey the landscape and search a replacement by titled experience not by name.
If you are a business owner you should also have a business ‘will’ that will nominate a successor and layout your business plans and projections. Not to be confused with a personal will, this is an entity in its own right and again should be reviewed regularly.
As a business owner you need to recognise the difference between management succession and ownership succession and address it accordingly.
Look at Succession Planning as a back-up programme for your business as you would when you back-up your computer and valuable files. It is without doubt one of the most underestimated business cornerstones that can be the most damaging if ignored.
Graduates, a cornerstone of your business
As part of your internal structure of succession planning don’t forget the growth of talent from within, at all levels.
Graduates are not only the foundation upon which development occurs, both in terms of current and direct educational benefits to the business but also the mentorship that develops and cements existing employees as a result of their overall guidance.
What is the cost of employing graduates?
As this article is published in a global magazine, contact details for additional information will be regional. However, we suggest that there will be a number of government initiatives to assist with employing graduates so the engagement should be of minimal cost. Think of employing graduates as an investment, not a cost to the business!
In Summary
In you’re a company, firstly ensure you have a succession plan in place. Secondly consider seriously the adoption of a graduate program into your business.
Why? It;
* Ensures there is continuity of leadership and skill sets.
* Provides strengthened employee relations.
* Identification of not only strengths but also deficiencies in the executive pool.
* Safeguards against unforseen situations.
* Cements commitment
* Backs-up your most important asset, people.
posted by Karl Jansson @ 6:43 PM
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